Exel Composites Plc and SSG Sahala to amend maintenance agreement

January 08, 2013 01:15 ET | Source:Exel Composites Oyj

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EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 8.1.2013 at 8.15 a.m.

EXEL COMPOSITES PLC AND SSG SAHALA TO AMEND MAINTENANCE AGREEMENT

Exel Composites Plc and Exel’s maintenance service provider SSG Sahala Oy have amended the maintenance co-operation agreement signed in 1996. Part of fields within the scope of the maintenance agreement will be transferred back to Exel Composites. As a result eight persons will be transferred to Exel Composites as existing employees at the Group’s Finnish units in Joensuu and Mäntyharju. The agreement will come into force on 1 February 2013.

”Transferring the fields relative to the agreement back to Exel makes the Finnish units’ operations more efficient and generates cost savings”, Mr. Vesa Korpimies, President and CEO of Exel Composites, says.

EXEL COMPOSITES IN BRIEF
Exel Composites (www.exelcomposites.com) is a technology company which designs, manufactures and markets composite profiles and tubes for industrial applications. The Group is the leading composite profile manufacturer in the world and concentrates on growing niche segments.

The core of the operations is based on own, internally developed composite technology, product range based on it and a strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The personnel’s expertise and high level of technology play a major role in Exel Composites’ operations.

The Exel Composites Plc share is listed in the Small Cap segment of NASDAQ OMX Helsinki Ltd.

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